How to Close Your Robinhood Account and Withdraw Your Money

How to delete your Robinhood account

You can close your Robinhood account through the app or website by going to your Account settings, selecting Delete Account, and following the prompts. Robinhood will walk you through the steps to transfer or withdraw your money before the account closes. The process takes a few minutes to start, but your account may take several business days to fully close after you submit the request.

Before you delete, you must have zero cash balance and no open positions (stocks, options, or crypto you currently own). If you have money sitting in the account or any holdings, Robinhood will not let you proceed. You will need to sell everything and withdraw the cash first.

Robinhood does not charge a fee to close your account. Once deleted, you lose access to your trading history, tax documents, and account data, so download anything you need before you finish the deletion process.

Key Takeaways

• You must sell all holdings and withdraw all cash before Robinhood will let you delete the account.
• The deletion request starts in Account settings on the app or website, and Robinhood will confirm your request by email.
• Download your tax documents and trading history before you delete, because you will not be able to retrieve them afterward.
• Account closure takes several business days after you submit the deletion request, even though the initial step takes only minutes.
• Robinhood does not charge a fee to close your account.

Steps to close your account on the Robinhood app

Open the Robinhood app and tap the Account icon at the bottom right. Scroll down and tap Account Settings. Look for the Delete Account option near the bottom of the settings menu.

Tap Delete Account and read the confirmation message. Robinhood will remind you that you must have zero cash and no open positions. If you do, the button will be grayed out and you cannot proceed. Go back and sell your holdings and withdraw your cash, then return to this screen.

Once you have a zero balance and no holdings, tap the Delete Account button again. Robinhood will send a confirmation email to the address on file. You must click the link in that email to complete the deletion. If you do not confirm within a set time, the request will expire and you will need to start over.

Steps to close your account on the Robinhood website

Log in to your Robinhood account on the website. Click your profile icon in the top right corner and select Account Settings from the dropdown menu.

Scroll down to find the Delete Account section. Click the Delete Account button. Robinhood will show you a checklist of requirements: zero cash balance, no open positions, and no pending transfers. If any of these are not met, you will see a message telling you what to clear first.

Once everything is cleared, click Delete Account again. Robinhood will send a confirmation email. Click the link in that email to verify your deletion request. Your account will close within several business days.

What to do with your money before you delete

Sell all stocks, options, and cryptocurrency you own in your account. Even fractional shares count as an open position, so make sure your holdings list shows zero for everything. This usually takes one to two minutes per holding.

Once everything is sold, you will have cash in your account. Withdraw that cash to your linked bank account. Go to Account Settings, find the Transfer Funds or Withdraw Cash option, and select your bank. Robinhood will transfer the money, which typically takes one to three business days depending on your bank.

Wait for the transfer to complete and confirm your bank received the money. Only then should you proceed with the account deletion. If you delete before the transfer settles, you may have trouble recovering the funds.

Download your tax documents and trading history

Before you delete, download your tax documents and any records you need. Go to Account Settings and look for Documents or Tax Documents. Robinhood provides a year-by-year list of tax forms, usually available as PDFs.

Download your 1099 forms for every year you held the account. These show your capital gains, losses, and dividend income, and you will need them to file your taxes. Robinhood will not send these to you after your account is deleted, and the IRS will have copies only if Robinhood filed them on your behalf.

You can also export your trading history from most brokers, though Robinhood's export options are limited. Take screenshots or download any statements you want to keep for your records.

What happens after you delete your account

Once Robinhood confirms your deletion request by email and you click the confirmation link, your account enters a closing period. During this time, you cannot log in or trade. The account will be fully closed within several business days.

After closure, you will not be able to log in, view your history, or recover any documents. Your data is deleted from Robinhood's systems according to their data retention policy. If you need to file taxes or dispute a trade, you will need the documents you downloaded before deletion.

You can open a new Robinhood account at any time after your old account closes. There is no waiting period or restriction on reopening.

Frequently Asked Questions

Can I delete my Robinhood account if I have pending transfers?

No. Robinhood will not let you delete if you have a transfer in progress. Wait for the transfer to complete and show in your bank account, then start the deletion process. This usually takes one to three business days.

What if I have a negative cash balance?

You cannot delete your account with a negative balance. You owe Robinhood money. Deposit cash to bring your balance to zero, then proceed with deletion. If you have margin debt, you must pay it off first.

Can I recover my account after I delete it?

No. Once Robinhood closes your account, it is permanently deleted. You cannot reopen the same account. You can create a new account, but it will be treated as a new customer with a new account number and no history from your old account.

Will Robinhood send me my tax documents after I delete?

No. Download all tax forms and statements before you delete. After closure, Robinhood will not provide documents or access to your account history. The IRS will have copies of your 1099 forms if Robinhood filed them, but you should keep your own copies for your records.

How long does it take to fully close my account?

The deletion request takes minutes to submit through the app or website. After you confirm by email, Robinhood typically closes the account within several business days. You will receive a final confirmation email when the closure is complete.